Multiparty transactions are those transactions where more than two parties are involved. The safekeeping of information in a two party transaction may be based on the trust that each party has with each other. However, multiparty transactions often involve one party, for example, a purchaser, utilizing the business contacts of another party, for example, a merchant, to orchestrate the transaction on behalf of the purchaser. The merchant takes the responsibility to execute the transaction for the benefit of the purchaser. This accepted responsibility also extends to protecting information given to the merchant by the purchaser in order to conduct the transaction. For example, in a standard credit purchase, a merchant must get not only order information from the purchaser, but also credit information so that the merchant may conduct the credit check portion of the transaction with the credit bureau. In this scenario, the merchant assumes the responsibility of keeping the purchaser's credit and purchase information secure from others. A much more desirable situation would be one where the purchaser's information has as little exposure as possible to as few parties as possible, and therefore limits the liability of a party receiving the purchaser's information. It is assumed that some potential purchasers may find the risk of personal information exposure too great and consequently become reluctant to engage in a multiparty transaction.
Thus, there is a need for a method for use in multiparty transactions where sensitive information belonging to one party is not distributed to others needlessly. Such a method may have the advantage of lessening sensitive information exposure and increasing confidence in digital transactions. The present invention addresses the aforementioned needs and solves them with additional advantages as expressed herein.